Fortune Oil Price: Big cut in oil prices, Adani Wilmar slashed prices, now Fortune brand oils will get cheaper.
New Delhi: Adani Wilmar has announced a reduction in the price of edible oils by up to Rs 30 per liter. The company has reduced prices for the second time in a month amid the global fall in edible oil prices. The Ahmedabad-based company said fresh stock of edible oils with the new MRP will hit the market soon. The company sells edible oils under the Fortune brand. The company has a market share of around 20 per cent.
Soybean oil prices fell the most
According to Adani Wilmar, soybean oil has been cut the most. Its price has been reduced from Rs 195 per liter to Rs 165 per litre. Whereas the lowest cut has been made in mustard oil. Its price has been reduced from Rs 195 to Rs 190 per liter.
The government had given instructions to reduce the price
The reduction in MRP has come after a directive from the Union Food Ministry. The ministry had on July 6 asked edible oil companies to pass on the benefits of the fall in global edible oil prices to consumers.
The price of Dhara brand was also reduced
Major milk supplier Mother Dairy had also cut prices of Dhara brand oils. Mother Dairy sells edible oils under the Dhara brand. The company had cut soybean and rice bran oil by up to Rs 14 per liter.
Prices were reduced even a month ago
Adani Wilmar is a joint venture between the Adani Group and the Wilmar Group of Singapore. Earlier on June 18, the company had reduced the prices by Rs 10 per liter.
These will be the prices
Sunflower oil price has been reduced from Rs 210 per liter to Rs 199 per litre. Whereas the price of Fortune Rice Bran (Rice Bran) oil has been reduced from Rs 225 per liter to Rs 210 per litre. According to the company, the price of groundnut oil has been reduced from Rs 220 per liter to Rs 210 per liter. Apart from this, the price of vanaspati under Raga brand has been reduced from Rs 200 per liter to Rs 185 per liter and Raga Palmolein oil from Rs 170 per liter to Rs 144 per litre.
Adani Wilmar also sells this product
Apart from edible oils, Adani Wilmar also sells food items like rice, flour, sugar, gram flour, ready-to-cook khichdi and soya chunks. The company had a turnover of around Rs 54,000 crore in the last financial year, which is 46 per cent higher than the previous year. India meets 60 per cent of its domestic requirement of edible oils through imports. India imported around 13 million tonnes of edible oil during 2020-21 till October.
